Advisers should expect a sharp focus on their investment propositions when the Financial Services Authority (FSA) begins its review of small firms later this year, according to Simplybiz managing director Matthew Timmins.
The regulator will conduct the reviews after completing regional Business Risk Awareness Workshops within the next few months. Timmins said the FSA is likely to pay particular attention to investment suitability, an area where it has previously sounded warnings. "One of the big areas of focus will still be investment suitability and whether the output of the advice matches with the clients' attitude to risk," he said. "Are they in a suitable vehicle? Have the advisers followed a proper process? Is it consistent across the business?" The FSA is to hold a series of workshops to in...
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